Author:Steven Bragg

Course Number: AU1012

Table of Contents
Chapter 1. Fraud and the Auditor's RoleChapter 2. Fraudulent Financial Reporting
Chapter 3. Extended Audit Procedures

Learning Objectives

• Recognize the components of the fraud triangle.

• Recognize who is responsible for fraud prevention and detection.

• Understand the reasons for professional skepticism in the conduct of an audit for fraud.

• Describe how to communicate to the client a discovery of fraud.

• Recognize the situations that create pressure for a client to falsify its financial statements.

• Specify the different types of scams that can be used to inflate the reported level of sales.

• Describe how to alter the outcome of the receivables turnover measurement.

• Cite the circumstances under which a client would want to recognize a large loss reserve.

• Recognize the methods that can be used to shift expenses into a later period.

• Cite the ways in which liabilities can be artificially lowered.

• Specify the primary goal of mis-reporting cash flows in the statement of cash flows.

• Describe the most appropriate audit team staffing when fraud is suspected.

• Recognize the characteristics of a fraudulent journal entry.

• Describe the techniques that can be used to alter a document to cover up a fraud.

• Specify the methods available for tracking down the theft of cash.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Auditing

Prerequisites: None

Advance Preparation: None

Latest Review Date:November 2023

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